Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
Incidentally, I may mention that I started the organization of the
famous Committee of Seventy, that brought about the overthrow of the
corrupt Tweed Ring, that had robbed the city of New York of about a
hundred millions of dollars. I nominated sixty-five of its members, and
for my instrumentality in forming that Committee of eminent and
public-spirited citizens I received many congratulations. That Committee
not only drove the thieves out of office, but caused the prosecution of
all of them who had not fled the country, and ultimately brought back
and convicted Tweed, who died in prison. Meanwhile, it had reorganized
the City Departments, and put new men in office, with Andrew H. Green as
Comptroller. It purified, and, for a time, virtually ruled the city,
through controlling its government.
But above everything else in my business life, I regard with most
satisfaction the work I did in marketing the Civil War loans of the
Government of this great and glorious country of ours—the United States
of America—and in other ways strengthening the hands of the Government
to the best of my ability and with all my heart and soul, not only as a
banker but a patriotic American citizen; and I felt that I had my reward
when, after the memorable four years’ war, peace came bringing with it
Victory for the Union and a reunited country, a victory which gave
permanence to the best government ever known to man—a government “of the
people, for the people, and by the people,” which bids fair to be
everlasting.
[Illustration:
MILLS BUILDING (OPPOSITE NEW YORK STOCK EXCHANGE), NOS. 11-13-15-17
BROAD STREET AND 35 WALL STREET, OCCUPIED BY THE BANKING HOUSE OF
HENRY CLEWS & CO.
]
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FIFTY YEARS IN WALL STREET
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BY HENRY CLEWS, LL.D.
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CHAPTER I.
MY DEBUT IN WALL STREET.
MY advent in Wall Street was on the heels of the panic of 1857. That
panic was known as the “Western blizzard.” It was entitled to the name,
as its destructive power and chilling effects had surpassed all other
financial gales that had swept over Wall Street. The first serious
result of its fatal force was the failure of the Ohio Life and Trust
Company, a concern of gigantic dimensions in those days.
The Company had an office in Wall Street, and on the announcement of the
collapse, business became completely paralyzed. This failure was
immediately followed by the suspension of many large firms that had
withstood the shock of all ordinary collisions and had successfully
weathered many financial storms.
Public-domain text, read in full here on John Shaqi.
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